Member Loans or Services Sample Clauses

Member Loans or Services. Loans or services by the Member to the Company shall not be considered Capital Contributions unless otherwise designated by the Member.
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Member Loans or Services. Loans or services by any Member to the Company may not be considered to be contribution to the capital of the Company, except as set out in Exhibit "A".
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Member Loans or Services. Unless otherwise approved by a Majority in Interest of the Members, loans or services by any Member to the Company shall not be considered Capital Contributions.
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Member Loans or Services. Services by any Member to the Company may not be considered to be contributions to the capital of the Company, and loans by any Member of the Company shall not be treated as Capital Contributions to the Company. Any compensation that the Company pays to a Member for services, and any payment made by the Company to a Member on that Member’s loan to the Company, shall not be treated as payment made to that Member acting in his, her, or its capacity as a Member under Code Section 707.
Sample 1
Member Loans or Services. A Member Loan may be requested at any time if the cash available to the Company is insufficient to (i) pay debt service on any loan owed by the Company, (ii) pay taxes and assessments owed by the Company, or (iii) pay other expenses which are not adequately funded by the cash flow of the Company. The Members shall be entitled to contribute their Percentage Interest of the Member Loan within ten (10) days of written request from the Operating Manager, as approved by the Management Committee, and if any Member fails or refuses to contribute its Percentage Interest of the Member Loan within that time, the other Members shall be entitled to contribute that portion of the Member Loan as well. Each Member Loan shall be due and payable twelve months from the date of funding and shall bear interest at the rate of two percent above the then current (as adjusted on a monthly basis) prime rate as published in the “Money Rates” The Wall Street Journal (the “Prime Rate”), commencing on the date the Company receives the Member Loan proceeds. Loans or services by any Member to the Company shall not be considered contributions to the capital of the Company.
Sample 1
Member Loans or Services. Except as set forth in SECTION 3.5, without Supermajority Approval, loans or services by any Member to the Company shall not be considered Capital Contributions.
Sample 1

Related to Member Loans or Services

  • Member Loans The Member may make loans (“Member Loans”) to the Company, which shall bear interest and be repaid on such reasonable terms and conditions as may be approved by the Member.

  • Loans or Advances Borrower shall not make any loans or advances to any individual, partnership, corporation, limited liability company, trust, or other organization or person, including without limitation its officers and employees; provided, however, that Borrower may make advances to its employees, including its officers, with respect to expenses incurred or to be incurred by such employees in the ordinary course of business which expenses are reimbursable by Borrower; and provided further, however, that Borrower may extend credit in the ordinary course of business in accordance with customary trade practices.

  • No Loans or Advances to Affiliates There are no outstanding loans, advances (except normal advances for business expenses in the ordinary course of business) or guarantees or indebtedness by the Company to or for the benefit of any of the officers or directors of the Company or any of their respective family members, except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

  • Loans or credit (a) Except as permitted under paragraph (b) below, no Obligor shall (and the Parent shall ensure that no member of the Group will) be a creditor in respect of any Financial Indebtedness.

  • Competitive Bid Loans Subject to the terms and conditions set forth herein, a Borrower may, from time to time, during the period from the Closing Date until the date occurring seven days prior to the Maturity Date, request and each Lender may, in its sole discretion, agree to make Competitive Bid Loans to such Borrower; provided, however, that (A) the sum of the aggregate amount of Revolving Loans outstanding plus the aggregate amount of Competitive Bid Loans outstanding to the Borrowers on any day shall not exceed the Revolving Loan Commitment and (B) if a Lender makes a Competitive Bid Loan, such Lender’s obligation to make its pro rata share of any Revolving Loan shall not be reduced thereby.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Cash Calls On the basis of each adopted Program and Budget, the Manager shall submit prior to the last day of each month a billing for estimated cash requirements for the next month. Within ten (10) days after receipt of each billing, or a billing made pursuant to SECTION 9.13 or 12.4, each Participant shall advance its proportionate share of such cash requirements. The Manager shall record all funds received in the Business Account. The Manager shall at all times maintain a cash balance approximately equal to the rate of disbursement for up to sixty (60) days. All funds in excess of immediate cash requirements shall be invested by the Manager for the benefit of the Business in cash management accounts and investments selected at the discretion of the Manager, which accounts may include, but are not limited to, money market investments and money market funds.

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